Sharp-Gallaher Racing expects to grow to 40 employees as it moves to Mooresville from Denver, N.C., to occupy an existing building.

The NASCAR racing company expects to spend $3.1 million to relocate to a building at 126 Exmore Drive in Deerfield Business Park. The facility totals 46,000 square feet in manufacturing and office space.

Sharp-Gallaher has two drivers, Justin Lofton and Max Gresham, who drive in the NASCAR Camping World Truck Series of races.

The company will bring 25 jobs from the Denver area of Lincoln County and add 15 jobs at the Iredell County facility. Salaries for those jobs will average $57,000 per year, the company says.

Last week, both the Iredell Board of County Commissioners and the town of Mooresville Commissioners approved incentives grants for the project. The total value of those inducements is $132,000 to be paid over five years.

Eddie Sharp Jr., team co-owner, says the move will allow the team to be closer to vendors and to a pool of racing employees.

“It is the heart of the motorsports industry and will be an honor to be headquartered in Race City USA with some of the best teams in our sport,” Sharp says.

Mooresville Mayor Miles Atkins says advanced manufacturers that serve race teams help to attract NASCAR racers to south Iredell.